3.941 will give you higher rpms unfortunately. A 3.722 was used in the transmission from the 98-02 Corollas and the other gearing is identical. So, if you were to swap, that would be the tranny to go with. However, that still only drops your cruising rpms by 140 @ 65 mph. At lower speeds the difference would be even less pronounced. So, its not a large gain at all. As far as a stock option, thats as good as it gets.
If you want to venture into custom land, reversing the 2nd gear ratio and using it as a new 5th gear would be a lot of work and money, but far superior. You'd have a 5th gear ratio of .525 and a cruising rpm of 1700 @ 65 mph instead of the stock 2670 @ 65 mph with the 98-02 tranny.